Multibagger NALCO share price rises 5% post Q2 results, dividend announcement

Stock Market Today: The National Aluminium Company Ltd (NALCO) share price gained more than 5% in the morning trades on Thursday post Q2 results that were declared after market hours on Wednesday. The company also announced an interim dividend of Rs.4 per equity share (80% on the face value of Rs.5 each) amounting to Rs.734.65 crore for FY 2024-25

NALCO share price performance

The NALCO share price opened at ₹229.80 on the BSE on Thursday, almost 4.5% higher than the previous days closing price of ₹219.80. The NALCO share price thereafter gained further to intraday high of ₹230.75 marking gains of close to 5%.

The NALCO share price that has risen more than 139% in last one year has given Multibagger returns to the investors.

NALCO Q2 Results

NALCO, the Navratna CPSE, had seen its net profit zoom 415% during the quarter ending September 2024. Nalco's net profit for the quarter ended September 2024stood at Rs. 1062 crore, compared to Rs. 206 crore achieved during corresponding period of last year, marking impressive 415% rise in net profit.

The total income of the company from operations during the quarter stood at Rs.4001 crore, registering 32 percent growth over Q2 of FY 23-24, which was Rs. 3044 crore.

Dividend details

Board of Directors of NALCO in their meeting held on 13 November 2024 approved payment of interim dividend Rs.4/‐ per share (80% on Face value of Rs.5/‐ each) on the paid‐up equity share capital of Rs.918.32 crore for the financial year 2024‐25.

Record date- The Company has fixed Friday, the 29th November, 2024 as Record Date for payment of Interim Dividend for the financial year 2024‐25 to the eligible shareholders

Dividend payment to be completed by- The payment of interim dividend shall be made on 11.12.2024 to all eligible shareholders, whose names appear in the Register of Members as on Record Date

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions